What is Client Onboarding?  

Onboarding is the process by which a company welcomes new clients before they start working with them; it sets the scene for the way the relationship and service will function and how smoothly it will run. At City Dynamics, we understand there’s a big unspoken factor at work during the onboarding process: building trust. The first few interactions any new client has with us should confirm the correct choice for their Microsoft Dynamics project.  It’s the same for our clients and their clients. Getting onboarding right from the offset sets the tone for the rest of the working relationship.

Unless it’s well thought out and the infrastructure within your business can support the mechanics of smooth onboarding, you’ll experience inefficiencies and potentially hit lots of snags. Where onboarding processes are inefficient, they will be time-consuming and tedious, and you’ll find they prevent you from starting your work with your new client. Iterative manual work, duplication of data and consequently effort, delays, wasted emails and waiting for (and chasing) signed documents can eat endless man hours and leave your team feeling frustrated. Sound familiar? You’re not alone.

Slow onboarding is one of the key areas our accountancy clients tell us stops them for beginning chargeable work for their new clients. It costs lost billable time but it can’t be avoided: if firms don’t complete the full KYC and AML due diligence checks before they begin work, they run the risk of potentially failing their institute’s required compliance. This is often more acute for our clients who are expanding most quickly. Lots of new clients can lead to a backlog of paperwork, which creates stress and delays, all of this creates pressures within the business, as clients demand work commence before they have been fully checked.

Automating the onboarding process, using integrated, cloud-based software such as Microsoft Dynamics 365, can remove stress, improve efficiency and speed up the whole process. This frees you up to start recording billable hours for the client. It also gives the partner in charge a clear dashboard view of the onboarding cycle and gives you at-a-glance access to the status of your client relationships.

Worried about job security? There’s a real fear amongst accountants that artificial intelligence and automation will replace their roles. However, our accounting clients also tell us there’s also a real shortage of fee earning accountants, so automation can help free accounting staff up to use their time to perform non- admin billable work. Want to learn more about this? Have a read through our blog on 5 Reasons why automation could be great news for accountants to learn more.

How can we help? 

City Dynamics experts have built a modern Client Onboarding solution for Dynamics 365 that can reduce an onboarding process from weeks to days using automation, clearly defined business processes and e-signatures, saving you time and printing/postage costs. The payoff is an advantage over your competition and increased customer satisfaction. And that’s just the start of the benefits, with a modern platform like Dynamics 365 from Microsoft, the potential is endless. How about a marketing platform to keep in touch with your client? Cross-selling services across the firm? Client profitability dashboards?

How do you manage your onboarding process?  – Get in touch if you’d like to know how City Dynamics can help improve business productivity and efficiency   


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